Introduction

INTRODUCTION TO PROJECT
An investment means employment of funds on assets (i.e. securities or mutual funds or any of the investment avenues) with the aim of earning of income as well as capital appreciation. There are mainly two attributes while investing to any of the means, i.e. time and risk. There are mainly four objectives, which the investments activities will carry on those are: Return Risk Liquidity Safety There are many alternatives which investment avenues are open to the investors to suit their needs and nature .The selection of investment alternatives are depends up on the required level of return and the risk tolerance level. These alternatives range from financial securities to traditional non-securities investment. Following are the various investment alternatives. Negotiable and fixed income securities Equity shares Preference share Debentures Bonds Government securities Non-negotiable securities Bank deposit Post office deposit NBFC deposit Tax saving schemes Public provident fund scheme National saving scheme Life insurance Mutual funds Real estate Securities
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Companies raise funds to finance their projects through various methods. The promoters can bring their own money or barrow from the financial institutions or Mobilizes capital by issuing securities. The funds `may be raised through issue of fresh share at per or premium. Preference shares debenture or global depository Receipts. These are mainly two markets which any company can raise their funds; those are primary market and secondary market .the companies raise funds for the following purposes: To promote a new company To expand an existing company To diversify the production To meet the regular working capital requirement To capitalize the reserves. New Issue Market (Primary Market) Stock available for the first time is offered through new issue market. The issuer may be a new company or an existing company. These issues may be of new type or the secure used in the past. In the new market the issuer can be consider as a manufacturers. The issuing house, investing banker and broker act as the channel of distributing for new issue. They take the responsibility of selling the stock to the public. The main survives function of the primary market are: 1. Origination 2. Underwriting 3. Distribution The main objectives of NSE are as follows. To establish the nationwide trading facility for Equities, Debt instruments and hybrids. To ensure equal access to investors all over the country through appropriate communication network. To enable shorter settlement cycle and book entry settlement system.

Mutual Funds A mutual fund is a type of professionally managed collective investment vehicle that pools money from many investors to purchase securities. While there is no legal definition of the term "mutual fund", it is most commonly applied only to those collective investment vehicles that are regulated and sold to the general public. They are sometimes referred to as "investment companies" or "registered investment companies." Most mutual funds are "open-ended," meaning investors can buy or sell shares of the fund at any time. Hedge funds are not considered a type of mutual fund.

Mutual Fund Operation Flow Chart

Types of Mutual Funds There are 3 principal types of mutual funds in the United States: open-end funds, unit investment trusts (UITs); and closed-end funds. Open-end funds Open-end mutual funds must be willing to buy back their shares from their investors at the end of every business day at the net asset value computed that day. Most open-end funds also sell shares to the public every business day; these shares are also priced at net asset value. A professional investment manager oversees the
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portfolio, buying and selling securities as appropriate. The total investment in the fund will vary based on share purchases, share redemptions and fluctuation in market valuation. There is no legal limit on the number of shares that can be issued. Open-end funds are the most common type of mutual fund. At the end of 2011, there were 7,581 open-end mutual funds in the United States with combined assets of $11.6 trillion. Closed-end funds Closed-end funds generally issue shares to the public only once, when they are created through an initial public offering. Their shares are then listed for trading on a stock exchange. Investors who no longer wish to invest in the fund cannot sell their shares back to the fund (as they can with an open-end fund). Instead, they must sell their shares to another investor in the market; the price they receive may be significantly different from net asset value. It may be at a "premium" to net asset value (meaning that it is higher than net asset value) or, more commonly, at a "discount" to net asset value (meaning that it is lower than net asset value). A professional investment manager oversees the portfolio, buying and selling securities as appropriate. At the end of 2011, there were 634 closed-end funds in the United States with combined assets of $239 billion. Unit investment trusts Unit investment trusts or UITs issue shares to the public only once, when they are created. UITs generally have a limited life span, established at creation. Investors can redeem shares directly with the fund at any time (as with an open-end fund) or wait to redeem upon termination of the trust. Less commonly, they can sell their shares in the open market. Unit investment trusts do not have a professional investment manager. Their portfolio of securities is established at the creation of the UIT and does not change. At the end of 2011, there were 6,022 UITs in the United States with combined assets of $60 billion.

Investments and classification Mutual funds are normally classified by their principal investments, as described in the prospectus and investment objective. The four main categories of funds are: money market funds bond or fixed income funds, stock or equity funds Hybrid funds. Money market funds Money market funds invest in money market instruments, which are fixed income securities with a very short time to maturity and high credit quality. Investors often use money market funds as a substitute for bank savings accounts, though money market funds are not government insured, unlike bank savings accounts. Money market funds strive to maintain a $1.00 per share net asset value, meaning that investors earn interest income from the fund but do not experience capital gains or losses. If a fund fails to maintain that $1.00 per share because its securities have declined in value, it is said to "break the buck". Only two money market funds have ever broken the buck: Community Banker's U.S. Government Money Market Fund in 1994 and the Reserve Primary Fund in 2008. At the end of 2011, money market funds accounted for 23% of open-end fund assets. Bond funds Bond funds invest in fixed income or debt securities. Bond funds can be sub classified according to the specific types of bonds owned (such as high-yield or junk bonds, investment-grade corporate bonds, government bonds or municipal bonds) or by the maturity of the bonds held (short-, intermediate- or long-term). Bond funds may invest in primarily U.S. securities (domestic or U.S. funds), in both U.S. and foreign securities (global or world funds), or primarily foreign securities (international funds). At the end of 2011, bond funds accounted for 25% of open-end fund assets.

Stock or equity funds Stock or equity funds invest in common stocks which represent an ownership share (or equity) in corporations. Stock funds may invest in primarily U.S. securities (domestic or U.S. funds), in both U.S. and foreign securities (global or world Funds), or primarily foreign securities (international funds). They may focus on a specific industry or sector. A stock fund may be sub classified along two dimensions: (1) market capitalization and (2) investment style (i.e., growth vs. blend/core vs. value). The two dimensions are often displayed in a grid known as a "style box." Hybrid funds Hybrid funds invest in both bonds and stocks or in convertible securities. Balanced funds, asset allocation funds, target date or target risk funds and lifecycle or lifestyle funds are all types of hybrid funds. Hybrid funds may be structured as funds of funds, meaning that they invest by buying shares in other mutual funds that invest in securities. Most fund of funds invest in affiliated funds (meaning mutual funds managed by the same fund sponsor), although some invest in unaffiliated funds (meaning those managed by other fund sponsors) or in a combination of the two. At the end of 2011, hybrid funds accounted for 7% of the assets in all U.S. mutual funds Advantages of Mutual Funds Increased diversification Daily liquidity Professional investment management Ability to participate in investments that may be available only to larger investors Service and convenience Government oversight

Disadvantages Fees Less control over timing of recognition of gains Less predictable income No opportunity to customize

Introduction to Bank

PROFILE
India is a developing country and we all know that banking sector plays a very important role. In development with the increasing use of banking and finance in every field, new trends in their technology and modern use are being evolved day to day to meet the requirements. In fact BANKING has become the need of today. The purpose of PROJECT REPORT is to expose the students in the market and in the field of banking, finance and investments and to develop the ability in the students to deal with all types of customers. Preparing project report in the summer vacations and undergoing the summer training is the indispensable part of the college period. It provides the opportunity to review what we have gained in the training period and also provides the way to convey the knowledge and ideas to others. The present project provides the information on the HDFC BANK. Learning is not possible in solitude and has to have the support and able guidance of some people around us in various roles and capacities. The satisfaction and euphoria that accompanies the successful completion of any task would be incomplete without the mention of the people who made it possible because success is the epitome of hard work, undeterred missionary zeal, fast determination, and consideration. Therefore, we consider it a pleasant duty to express our heartiest appreciation, gratitude, and indebtedness to our project guide Mr. Nitish Dipankar for his keen interest, sincere extortion, invaluable and pain taking excellent guidance, continuous calm endurance, inspiration and encouragement during each phase of the present project.

HDFC BANK
The Housing Development Finance Corporation Limited (HDFC) was amongst the first to receive an "in principle" approval from the Reserve Bank of India (RBI) to set up a bank in the private sector, as part of RBI"s liberalization of the Indian Banking Industry in 1994. The bank was incorporated in August 1994 in the name
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of "HDFC Bank Limited", with its registered office in Mumbai, India. HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995. History HDFC is India's premier housing finance company and enjoys an impeccable track record in India as well as in international markets. Since its inception in 1977, the Corporation has maintained a consistent and healthy growth in its operations to remain the market leader in mortgages. Its outstanding loan portfolio covers well over a million dwelling units. HDFC has developed significant expertise in retail mortgage loans to different market segments and also has a large corporate client base for its housing related credit facilities. With its experience in the financial markets, strong market reputation, large shareholder base and unique consumer franchise, HDFC was ideally positioned to promote a bank in the Indian environment. MANAGEMENT (DIRECTORS) Mr. C M Vasudev Mr. Aditya Puri Mr. Keki Mistry Mrs. Renu Karnad Dr. Pandit Palande Mr. Partho Datta Mr. Bobby Parikh Mr. A. N. Roy Mr. Vijay Merchant Mr. Paresh Sukthankar

Vision To evolve and position the bank as a world class progressive, cost effective and customer friendly institution providing comprehensive financial and related services; integrating frontiers of technology and serving various segments of society especially the weaker sections; committed to excellence in serving the public and also excelling in corporate values
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Mission Our business mission emphasizes the following: o Increase our market share in Indias expanding banking and financial services industry by following a disciplined growth strategy focusing on quality and not on quantity and delivering high quality customer service. o Leverage our technology platform and open scale able systems to deliver more products to more customers and to control operating costs. o Maintain our current high standards for asset quality through disciplined credit risk management. o Develop innovative products and services that attract our targeted customers and address inefficiencies in the Indian financial sector. o Continue to develop products and services that reduce our cost of funds. o Focus on high earnings growth with low volatility. Values The values that drive us underscore our commitment to: Customer Focused Be someone who places customers and their needs at the forefront while developing and managing their financial solutions.

Mutual Respect Build mutual respect by being an equal partner, who knows and willingly shares, helping people go further, rather than walking ahead and leading them, or walking behind and following. Worthy of Trust Build trust by choosing the right path, rather than the easy path and tell the truth the way it is. Be someone who keeps promises, meets commitments and behaves with integrity at all times.

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 Winning Be positive and confident; seize every moment, every day, with a winning perspective, fearlessly facing the uncertainties of life.

Products & Services

Deposits Savings Account Recurring Deposit Fixed Deposits Current Accounts Priority Sector Loans Housing Loan Home Enhancement Loans Personal Loan Education Loan Car Loans Business Loans NRI Services Gold Card Schemes RBI Citizens' Charter including cash and deposits Locker Facilities RTGS NEFT HDFC e-funds Transfer Tax Payment E-bill Payments

Loans

Other Services

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Deposit Accounts
You may open different type of accounts with us such as, savings accounts, term deposits, and current accounts including 'No Frills' Account etc with us. You may open such accounts in the following styles) i. Single ii. Joint iii. Joint (Either or Survivor) iv. Joint (Former or Survivor) v. Joint (Latter or Survivor) vi. Or in any other style The above may be opened by you with or without nomination facility. We will explain the implications of the foregoing accounts as also the nomination facilities at the time of opening of the account. We will also inform you about liquid deposit facility, sweep account and similar types of products offered by us and their implications and procedures involved, at the time of opening of account. 'No Frills' Account We will make available a basic banking 'No Frills' Account either with 'nil' or very low minimum balances. The charges applicable for various services/ products in such an account will be indicated in a separate Tariff Schedule. The nature and number of transactions in such accounts may be restricted, which will be made known to you at the time of opening of the account in a transparent manner. Special Accounts We will make our best efforts to make it easy and convenient for our special customers like senior citizens, physically challenged persons and illiterate persons to bank with us. This will include making convenient policies, products and services for such applicants and customers. We will inform the procedure for opening of the account and other terms and conditions to blind /other physically challenged persons provided he/she calls on the Bank personally along with a witness who is known to both such person and the bank. Normally no cheque book facility is provided to illiterate persons and blind persons. However, to meet periodic repayment of retail loans, utility bills etc. we will consider issuing of cheque book with safeguards to protect your interest.
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Dormant/ Inoperative Accounts We will a. tell you when you open your account, what period of inoperation of the account would render your account being classified as dormant/ inoperative account. You will also be informed three months before your account is classified as dormant, inoperative or treated as unclaimed account and the consequences including the charges for reactivation thereof as per the Tariff Schedule; b. tell you the procedure to be followed if you want to activate the account . Closing Your Account Under normal circumstances, we will not close your account without giving you at least 30 days notice. Examples of circumstances, which are not 'normal', include improper conduct of account etc. In all such cases, you will be required to make alternate arrangements for cheques already issued by you and desist from issuing any fresh cheques on such account. Clearing Cycle / Collection Services We will a. tell you about the clearing cycle for local instruments and the outstation instruments including details such as when you can withdraw money after lodging collection instruments and when you will be entitled to earn delayed interest as per our Cheque Collection Policy. b. provide details, if we offer immediate credit for outstation cheques, including the applicable terms and conditions, such as the limit up to which instruments tendered by you can be credited, operating accounts satisfactorily, etc. c. proceed as per our cheque collection policy and provide all assistance for you to obtain a duplicate cheque/instrument in case a cheque instrument tendered by you is lost in transit d. give the above information when you open your account and whenever you ask us. If there is any change in our policy, the revised policy will be displayed on our website and at all our branches.
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Cash Transactions We will accept cheques/ cash and dispense cash at counters wherever your account is maintained. We will exchange soiled/mutilated notes and/ or small coins at such of our branches as per RBI Directives. For transactions above a specified amount we may require you to furnish your PAN Number. Safe Deposit Lockers We will give you the complete details of the rules and the procedures applicable for the safe deposit lockers and also safe deposit of valuables, in case we offer the service. Foreign Exchange Services a. When you buy or sell foreign exchange, we will give you information on the services, details of the exchange rate and other charges which apply to foreign exchange transactions. If this is not possible, we will tell you how these will be worked out. b. If you want to transfer money abroad, we will tell you how to do this and will give you: i. A description of the services and how to use them; ii. Details of when the money you have sent abroad should get there and the reasons for delays, if any. iii. The exchange rate applied when converting to the foreign currency (if this is not possible at the time of the transaction, we will let you know later what the rate is); iv. Details of any commission or charges, which you will have to pay and a warning that the person receiving the money may also, have to pay the foreign bank's charges. v. We will tell you if the information provided by you for making a payment abroad is adequate or not. In case of any discrepancies or incomplete documentation, we will advise you immediately and assist you to rectify/complete the same. vi. If money is transferred to your bank account from abroad, we will tell you the original amount received and charges if any levied. If the sender has agreed to pay all charges, we will not take any charges when we pay the money into your account.
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vii.

viii.

ix.

We will guide you about regulatory requirements or conditions relating to foreign exchange services offered by us as and when requested by you. In case of delay beyond the day when the amount is due for credit, you will be compensated (a) for any loss on account of interest for due period beyond the due date and (b) also for adverse movement of forex rate as per the compensation policy of the bank. All certificates required to be issued under regulatory/statutory instructions will be issued free of charge.

Product and Services

(1)Regular Savings Account A savings account designed to meet your day to day banking needs while giving you 24X7 accesses to your bank. Basic feature of the account shall be as under:Features Access a wide network of branches and ATMs across the country to meet all your banking needs. Free Net Banking (on request) for convenient banking. Use National Electronic Funds Transfer (NEFT) to transfer funds from your HDFC Bank account to any account in another Bank at locations specified by the RBI. Enjoy Free IVR based Phone Banking (Agent assisted calls will be charged*). Get free quarterly account statements. Access your account with your free ATM Card. Enjoy free cash and cheque deposits at branches and ATMs. Get free cash withdrawals at any bank's ATM with your Debit Card*.

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 Minimum Balance in Account Minimum Balance Rs. 10,000 (Metro / Urban Branches) Rs. 5000 (Semi Urban/ Rural Branches)

Premium Salary Account A customized salary account for select corporate, backed by priority service. Special offers and benefits such as a free zero balance account for you and your family. This account comes with free Personal Accidental Death Cover of Rs 5 lac. Features Zero Balance Savings Account Free Personal Accidental Death Cover of Rs. 5 lakhs* Free Titanium Debit Card with ATM cash withdrawal limit of Rs. 50,000/per day and shopping limit of Rs. 75,000/- per day Free access to other bank ATMs in India 5 free cash withdrawal and balance enquiry transactions per month Free payable at par chequebook One per quarter Free add-on International Debit Card Free Zero Balance Salary Family Account for your family members with same benefits as your salary account Regular Current Account Ideal low cost account for businesses that operate in one city. With free access to one of the most advanced and secure Net Banking and Mobile Banking services.

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Features Get convenient inter-city banking and free cheque payments anywhere. Free Collections of funds through RTGS and NEFT Free Payments through NEFT. Nominal charges for RTGS payments Transfer funds across cities between HDFC Bank accounts at a nominal charge of Rs.15 per transactions Issue free Demand Drafts (DD) / Pay Order for values above Rs.100,000. For Demand Drafts up to Rs.50,000 a charge of Rs.40, Demand Drafts above Rs.50,000 and below Rs.100,000 a charge of Rs.25 will be levied. Get a payable-at-par cheque book at a nominal price. Regular Fixed Deposit You no longer need to choose between great rates and safety for your Fixed Deposit. How does it work? Easy investment with High Returns Great rates, flexibility and security - in one offering Higher rate of interest on Fixed Deposit for Senior Citizen Convenience of booking deposit through Net Banking

Loans & Cards Credit Cards Personal Loan Business Loans Home Loan Car Loans Two Wheeler Loans
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 Loans Against Assets Educational Loan Debit Cards Investments & Insurance Life Insurance Motor Insurance Travel Insurance Home Insurance Wealth Services Investment Products

Online Services & Tools Credit Card Eligibility Check Recharge your Mobile Track your application status - Card, Loan Online Tax payment Religious Offerings

ATM facility All the eligible HDFC-Central card holders will be issued HDFC BANK Credit Card free of issuance fee for the first year of issuance, subject to ICICI Banks eligibility criteria for issuance of credit card. EFT EFT System has been introduced by RBI at selected centers for faster and economical remittance of funds (inter bank/ intra bank). It facilitates quick movement of money from the bank account of one customer to the bank account of another customer. In this system the sender and the receiver of funds may be located in different cities and may even bank with different Bank.

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Benefits: - There is no upper Limit of amount being transferred - Funds are transferred within 24 hours - Frauds in processing paper instruments are avoided - RBI-EFT has inbuilt security measures - Beneficiary need not to go to the Bank. Amount is credited to his bank account directly.

SWOT ANALYSIS
The various strengths, weakness, opportunity and threats of the HDFC BANK. unit are as fallow: Strengths high profitability and revenue skilled workforce experienced business units monetary assistance provided existing distribution and sales networks domestic market Weaknesses tax structure Opportunities growth rates and profitability income level is at a constant increase new products and services Threats growing competition and lower profitability increase in labor costs

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LITERATURE REVIEW
Arzu Tektas et al (2005) states that An efficient asset-liability management requires maximizing banks' profit as well as controlling and lowering various risks. This multi-objective decision problem aims to reach goals such as maximization of liquidity, revenue, capital adequacy, and market share subject to financial, legal requirements and institutional policies. This paper models asset and liability management (ALM) in order to show how different managerial strategies affect the financial wellbeing of banks during crisis. Brent Finlay states that avoiding the top 7 business financing mistakes is a key component in business survival. The key is to understand the causes and significance of each so that the company is in a position to make better decisions. No Monthly Bookkeeping No Projected Cash Flow Inadequate Working Capital Poor Payment Management Poor Credit Management No Recorded Profitability No Financing Strategy Harris (2005) from the perspective of the chief financial officer, the concept of working capital management is relatively straightforward: to ensure that the organization is able to fund the difference between short-term assets and short-term liabilities. In practice, though, working capital management has become the Achilles' heel of scores of finance organizations, with many CFOs struggling to identify core working capital drivers and the appropriate level of working capital. As a result, companies can be limited in their ability to weather unforeseen or adverse events andensure that cash is readily available where it is needed, regardless of the circumstances. By Understanding the role and drivers of working capital management and taking steps to reach the 20 "right" levels of working capital, companies can minimize risk, effectively prepare for uncertainty and improve overall performance.

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Maynard E. Rafuse (1996) Argues that attempts to improve working capital by delaying payment to creditors is counter-productive to individuals and to the economy as a whole. He claims that altering debtor and creditor levels for individual tiers within a value system will rarely produce any net benefit. Proposes that stock reduction generates system-wide financial improvements and other important benefits. Urges those organizations seeking concentrated working capital reduction strategies to focus on stock management strategies based on lean supply-chain techniques.

M.K. Kolay (1997) writes the article which analyses the pros and cons of different strategies to be adopted to manage and avoid working capital crisis situations in any organization. The working capital position depends on many organizational parameters which are interrelated and interdependent, and also vary over time. In such a situation, the use of a system dynamics approach has been advocated to reflect the relevant dynamic cause-and-effect relationships for the development of appropriate long-term and short-term strategies.

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Objectives of the study

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OBJECTIVES OF THE STUDY

Objectives are the ends that states specifically how goal be achieved. Every study must have an objective for which all the efforts have been done. Without objective no research can be conducted and no result can be obtained. On the basis of objective all the research process is followed. Objectives are the main aspect of every study. The objective of the study gives direction to go through the research problem. It guides the researcher and keeps him on track. I have two objectives regarding my research project. These are shown below :1. Primary objective 2. Secondary objective 1. Primary objective:1) To study the Investment options in HDFC. 2) To analyze the Mutual Funds of HDFC by Comparative Analysis. 2. Secondary objective:1) To find out the shortcomings in HDFC. 2) To see whether HDFC is going well or not in different areas 3) To inform the management about the financial condition of HDFC. 4) To inform the investor, enabling them to take the investment decision.

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LIMITATION OF THE STUDY

Every study has some limitations. Inspire of the hurdles, the training period was a good time for learning experience but there were certain limitations that every researcher has to face during the research period. I too had to face certain such limitations: Shortage of time: Period of six weeks is not sufficient to even study the basic routine activities of the organization Lack of expertise, being a fresher Difficulty in analyzing data, being a fresher. Lack of attention, support from the executives of the concerned organization.

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Research Methodology

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RESEARCH METHODOLOGY
Research is defined as a scientific & systematic search for pertinent information on a specific topic. Research is an art of scientific investigation. Research is a systemized effort to gain new knowledge. It is a careful inquiry especially through search for new facts in any branch of knowledge. The search for knowledge through objective and systematic method of finding solution to a problem is a research. Problem Statement The research problems, in general refers to some difficulty with a researcher experience in the contest of either a particular a theoretical situation and want to obtain a salutation for same. The present project has been undertaken to do the Analysis of Mutual Funds at HDFC Bank.. Research Design A research is the arrangement of the conditions for the collections and analysis of the data in a manner that aims to combine relevance to the research purpose with economy in procedure. In fact, the research is design is the conceptual structure within which research is conducted; it constitutes the blue print of the collection, measurement and analysis of the data. As search the design includes an outline of what the researcher will do from writing the hypothesis and its operational implication to the final analysis of data. The design is such studies must be rigid and not flexible and most focus attention on the following; What is the study about? Why is the study being made? Where will the study be carried out? What type of data is required? Where can be required data be found? What period of time will the study include? What will be sample design? What techniques of data collection will be used? How will the data be analyzed? Research Design can be categorized as: Exploratory Research Descriptive Research
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 Diagnostic Research Experimental Research The present study is descriptive in nature, as it studies only the existing financial statement and no change is carried out. Research design is flexible enough to provide opportunity for considering different aspects of problem under study. It helps in bringing into focus some inherent weakness in enterprise regarding which in depth study can be conducted by management. Research is an art of scientific investigation. It is basically a careful investigation for search of new facts in any branch of knowledge. Research Design: A research design is the arrangement of conditions for collection and analysis of data in manner that aims to combine relevance to the research purpose with economy in procedure. It is a framework, which determines the course of action towards the collection and analysis of required data. It may be described as the conceptual structure with in which the research is conducted. I have adopted descriptive research as well as exploratory design for analysis of data. Time Schedule: The collection of data was last five years. As HDFC Bank. is a very big Organization and it is very difficult to study the whole system in just few 6- 8weeks so as according to my limitation I divided the whole topic into small different modules and decided to study each of them separately, so that the in depth knowledge is covered under this report. For this I prepared the following time schedule for myself describe on the next page: Data Collection : Data Collection can be broadly classified into two categories: Primary Data : Primary Data are those collected a fresh and for first time and thus happen to be original in character important primary data are: i. Observation Method ii. Interview Method Secondary Data : Secondary Data are those which have already been collected and which have already been passed through the statistical process, secondary data can be collected from :
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 Books Annual Reports of the Bank Journals & Magazines Websites I have used secondary data which is including last two years accounts to conduct the study. STEPS OF METHODOLOGY Collection of Data Organizing the Data Presentation of Data Analysis of Data Interpretation 1. COLLECTION OF DATA This is the first step in the process. It forms foundation of the whole data. Source : Individuals Communication Method : Banks published financial statements. Objectives : Maximizing Relevant Information 2. ORGANISING THE DATA The data collected during data collection process are organized and presented in a comprehensible sequence to make them more meaningful. 3. PRESENTATION After the data has been properly organized, it is ready for presentation. There are different modes of presentation like tables, charts etc. The main objectives of presentation are to put collected data into an easy readable form. 4. ANALYSIS OF DATA After organizing and presenting the data, the researcher then has to proceed towards conclusion by logical inferences. The raw data is then analyzed: * By bringing raw data to measured data. * Summarizing the data.

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5. INTERPRETATION Interpretation means to bring out meaning of data or to convert mere data into information. From the analysis of data the various conclusions are find out on the basis of logical inferences.

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Analysis & Interpretation

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MEANING OF Mutual Fund Mutual fund is a mechanism for pooling the resources by issuing units to the investors and investing funds in securities in accordance with objectives as disclosed in offer document. Investments in securities are spread across a wide cross-section of industries and sectors and thus the risk is reduced. Diversification reduces the risk because all stocks may not move in the same direction in the same proportion at the same time. Mutual fund issues units to the investors in accordance with quantum of money invested by them. Investors of mutual funds are known as unit holders. The profits or losses are shared by the investors in proportion to their investments. The mutual funds normally come out with a number of schemes with different investment objectives which are launched from time to time. A mutual fund is required to be registered with Securities and Exchange Board of India (SEBI) which regulates securities markets before it can collect funds from the public. About HDFC Mutual Fund HDFC Mutual Fund is one of the largest mutual funds incorporated on December 10, 1999. Presently, HDFC Mutual Fund is managing: 28 Open-Ended Schemes 8 Close-Ended Schemes Description of products or funds HDFC Growth fund (HGF) Investment objective To generate long term capital appreciation from a portfolio that is invested predominantly in equity and equity related instrument Asset allocation pattern Types of instrument Normal allocation of scheme 1. Equity and equity related (%net assets) instrument. 80-100

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2. Debt securities, money 0-20 market instrument and cash (including CBLO/reverse repo.) Plans and option Plans: none option: growth *dividend -payout -reinvest Minimum application Purchase Additional purchase amt. Rs 5000/Rs 1000/Systematic investment Please refer page no.22 for details of (SIP) plan(SIP) Systematic withdrawal Please refer page no.22 for details of (SWP) plan(SWP) Name of manager the fund Mr. Srinivas Rao Ravari

HDFC Top 200 funds (HT 200) Investment objective To generate long term capital appreciation from a portfolio of equity and equity linked instrument primarily drawn from the companies in BSE 200 Index Asset allocation Types of Normal allocation pattern of scheme instrument 1. Equity & equity (%of net assets) linked instrument. Up to 100%(including use of

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Plans & options

Minimum application amt. Systematic investment plan(SIP) Systematic Please refer page no.22 for details of (SWP) withdrawal plan(SWP) Name of the fund Mr. Prashant Jain manager

2. # Debt and derivatives for hedging & money instruments. permitted by prevailing by #Investment in SEBI regulation) securitized debt. If undertaken would not exceed 20%of the net assets of the scheme. Plans- Nil option Growth & Dividend - Payout - reinvest Purchase Additional purchase Rs 5000/Rs 1000/Please refer page no.22 for details of (SIP)

Role of SEBI in mutual funds Unit Trust of India was the first mutual fund set up in India in the year 1963. In early 1990s, Government allowed public sector banks and institutions to set up mutual funds. In the year 1992, Securities and exchange Board of India (SEBI) Act was passed. The objectives of SEBI are to protect the interest of investors in securities and to promote the development of and to regulate the securities market. As far as mutual funds are concerned, SEBI formulates policies and regulates the mutual funds to
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protect the interest of the investors. SEBI notified regulations for the mutual funds in 1993. Thereafter, mutual funds sponsored by private sector entities were allowed to enter the capital market. The regulations were fully revised in 1996 and have been amended thereafter from time to time. SEBI has also issued guidelines to the mutual funds from time to time to protect the interests of investors. All mutual funds whether promoted by public sector or private sector entities including those promoted by foreign entities are governed by the same set of Regulations. There is no distinction in regulatory requirements for these mutual funds and all are subject to monitoring and inspections by SEBI. The risks associated with the schemes launched by the mutual funds sponsored by these entities are of similar type.

Major Mutual Fund Companies in India

Prudential Mutual Fund UTI Mutual Fund Reliance Mutual Fund HDFC Mutual Fund Franklin Mutual Fund Birla sun Mutual Fund SBI Mutual Fund DSP Merrill Lynch Mutual Fund Kotak Mutual Fund Tata Mutual Fund HSBC Mutual Fund PRINCIPAL Mutual Fund Standard chartered Mutual Fund LIC Mutual Fund Sundaram Mutual Fund Deutsche Mutual Fund Fidelity Mutual Fund ABN AMRO Mutual Fund ING Vysya Mutual Fund Canbank Mutual Fund
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JM Mutual Fund Chola Mutual Fund Benchmark Mutual Fund BOB Mutual Fund Taurus Mutual Fund Sahara Mutual Fund Escorts Mutual Fund Quantum Mutual Fund

Mutual Fund Structure

The structure consists of : Sponsor Sponsor is the person who acting alone or in combination with another body corporate establishes a mutual fund. Sponsor must contribute at least 40% of the net worth of the Investment Managed and meet the eligibility criteria prescribed under the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996.The Sponsor is not responsible or liable for any loss or shortfall resulting from the operation of the Schemes beyond the initial contribution made by it towards setting up of the Mutual Fund.

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Trust The Mutual Fund is constituted as a trust in accordance with the provisions of the Indian Trusts Act, 1882 by the Sponsor. The trust deed is registered under the Indian Registration Act, 1908 Trustee Trustee is usually a company (corporate body) or a Board of Trustees (body of individuals). The main responsibility of the Trustee is to safeguard the interest of the unit holders and inter alia ensure that the AMC functions in the interest of investors and in accordance with the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, the provisions of the Trust Deed and the Offer Documents of the respective Schemes. Atleast 2/3rd directors of the Trustee are independent directors who are not associated with the Sponsor in any manner. Asset Management Company (AMC) The AMC is appointed by the Trustee as the Investment Manager of the Mutual Fund. The AMC is required to be approved by the Securities and Exchange Board of India(SEBI) to act as an asset management company of the Mutual Fund. At least 50% of the directors of the AMC are independent directors who are not associated with the Sponsor in any manner. The AMC must have a net worth of at least 10 corers at all times. Registrar and Transfer Agent The AMC if so authorized by the Trust Deed appoints the Registrar and Transfer Agent to the Mutual Fund. The Registrar processes the application form, redemption requests and dispatches account statements to the unit holders. The Registrar and Transfer agent also handles communications with investors and updates investor records The AMC if so authorized by the Trust Deed appoints the Registrar and Transfer Agent to the Mutual Fund. The Registrar processes the application form, redemption requests and dispatches account statements to the unit holders. The Registrar and Transfer agent also handles communications with investors and updates investor records.

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RISK

The Risk-Return Trade-off The most important relationship to understand is the risk-return trade-off. Higher the risk greater the returns/loss and lower the risk lesser the returns/loss. Hence it is upto you, the investor to decide how much risk you are willing to take. In order to do this you must first be aware of the different types of risks involved with your investment decision Market Risk Sometimes prices and yields of all securities rise and fall. Broad outside influences affecting the market in general lead to this. This is true, may it be big corporations or smaller mid-sized companies. This is known as Market Risk. A Systematic Investment Plan (SIP) that works on the concept of Rupee Cost Averaging (RCA) might help mitigate this risk. Credit Risk The debt servicing ability (may it be interest payments or repayment of principal) of a company through its cash flows determines the Credit Risk faced by you. This credit risk is measured by independent rating agencies like CRISIL who rate companies and their paper. A AAA rating is considered the safest whereas a D rating is considered poor credit quality. A well-diversified portfolio might help mitigate this risk.
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Inflation Risk Things you hear people talk about: Rs. 100 today is worth more than Rs. 100 tomorrow. Remember the time when a bus ride coated 50 paise? Mehangai Ka Jamana Hai. The root cause, Inflation. Inflation is the loss of purchasing power over time. A lot of times people make conservative investment decisions to protect their capital but end up with a sum of money that can buy less than what the principal could at the time of the investment. This happens when inflation grows faster than the return on your investment.

Interest Rate Risk In a free market economy interest rates are difficult if not impossible to predict. Changes in interest rates affect the prices of bonds as well as equities. If interest rates rise the prices of bonds fall and vice versa. Equity might be negatively affected as well in a rising interest rate environment. A well-diversified portfolio might help mitigate this risk. Political/Government Policy Risk Changes in government policy and political decision can change the investment environment. They can create a favorable environment for investment or vice versa. Liquidity Risk Liquidity risk arises when it becomes difficult to sell the securities that one has purchased. Liquidity Risk can be partly mitigated by diversification, staggering of maturities as well as internal risk controls that lean towards purchase of liquid securities. Choice of Schemes Mutual Funds offer a family of schemes to suit your varying needs over a lifetime.
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Well Regulated All Mutual Funds are registered with SEBI and they function within the provisions of strict regulations designed to protect the interests of investors. The operations of Mutual Funds are regularly monitored by SEBI. Drawbacks of Mutual Funds No Guarantees: No investment is risk free. If the entire stock market declines in value, the value of mutual fund shares will go down as well, no matter how balanced the portfolio. Investors encounter fewer risks when they invest in mutual funds than when they buy and sell stocks on their own. However, anyone who invests through a mutual fund runs the risk of losing money. Fees and commissions: All funds charge administrative fees to cover their day-to-day expenses. Some funds also charge sales commissions or "loads" to compensate brokers, financial consultants, or financial planners. Even if you don't use a broker or other financial adviser, you will pay a sales commission if you buy shares in a Load Fund. Taxes: During a typical year, most actively managed mutual funds sell anywhere from 20 to 70 percent of the securities in their portfolios. If your fund makes a profit on its sales, you will pay taxes on the income you receive, even if you reinvest the money you made. Management Risk: When you invest in a mutual fund, you depend on the fund's manager to make the right decisions regarding the fund's portfolio. If the manager does not perform as well as you had hoped, you might not make as much money on your investment as you expected. Of course, if you invest in Index Funds, you forego management risk, because these funds do not employ managers. Rights of a Mutual Fund Unit holder A unit holder in a Mutual Fund scheme governed by the SEBI (Mutual Funds) Regulations is entitled to:
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1. Receive unit certificates or statements of accounts confirming the title within 6 weeks from the date of closure of the subscription or within 6 weeks from the date of request for a unit certificate is received by the Mutual Fund. 2. Receive information about the investment policies, investment objectives, financial position and general affairs of the scheme. 3. Receive dividend within 42 days of their declaration and receive the redemption or repurchase proceeds within 10 days from the date of redemption or repurchase. 4. Vote in accordance with the Regulations to:a. Approve or disapprove any change in the fundamental investment policies of the scheme, which are likely to modify the scheme or affect the interest of the unit holder. The dissenting unit holder has a right to redeem the investment. b. Change the Asset Management Company. c. Wind up the schemes. Profile of HDFC Mutual Fund HDFC Asset Management Company Ltd (AMC) was incorporated under the Companies Act, 1956, on December 10, 1999, and was approved to act as an Asset Management Company for the HDFC Mutual Fund by SEBI vide its letter dated June 30, 2000.The registered office of the AMC is situated at Ramon House, 3rd Floor, H.T. Parekh Marg, 169, Back bay Reclamation, Church gate, Mumbai - 400 020. In terms of the Investment Management Agreement, the Trustee has appointed the AMC to manage the Mutual Fund. As per the terms of the Investment Management Agreement, the AMC will conduct the operations of the Mutual Fund and manage assets of the schemes, including the schemes launched from time to time.

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The present shareholding pattern of the AMC is as follows Particulars HDFC Ltd. Percentage of Paid up Capital 50.10

Standard Life Insurance 49.90 Ltd.

The Board of Directors of the HDFC Asset Management Company Limited (AMC) Mr. Deepak S Parekh Mr. N. Keith Skeoch Mr Mark Connolly Mr. Hoshang S. Billimoria Mr. Humayun Dhanrajgir Mr. P. M. Thampi Dr. Deepak Phatak Mr Rajeshwar Raj Bajaaj Ms. Renu S. Karnad Mr. Milind Barve

The AMC is managing 3 close ended schemes HDFC Fixed Investment Plan HDFC Long Term Equity Fund and HDFC Fixed Maturity Plans

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22 open-ended schemes of the Mutual Fund HDFC Growth Fund (HGF) HDFC Balanced Fund (HBF) HDFC Income Fund (HIF) HDFC Liquid Fund (HLF) HDFC Long Term Advantage Fund (formerly HDFC Tax Plan 2000)(HTP) HDFC Children's Gift Fund (HDFC CGF) HDFC Gilt Fund (HGILT) HDFC Short Term Plan (HSTP) HDFC Index Fund HDFC Floating Rate Income Fund (HFRIF) HDFC Equity Fund (HEF) HDFC Top 200 Fund (HT200) HDFC Capital Builder Fund (HCBF) HDFC TaxSaver (HTS) HDFC Prudence Fund (HPF) HDFC High Interest Fund (HHIF)

HDFC Cash Management Fund (HCMF) HDFC MF Monthly Income Plan (HMIP) HDFC Core & Satellite Fund (HCSF) HDFC Multiple Yield Fund (HMYF) HDFC Premier Multi-Cap Fund. (HPM)

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Techniques Used for Analysis

1) Return 2) Risk 3) Sharpe index 4) Treynors Index Return Return on a typical investment consists of two components. The basic is the periodic cash receipts (or income) on the investment, either in the form of interest or dividends. The second component is the change in the price of the assets-commonly called the capital gain or loss. This element of return is the difference between the purchase price and the price at which the assets can be or is sold; therefore, it can be again or a loss.

The return has been calculated as under NAVt NAVt-1 Portfolio return: Rit = --------------------------------NAV t-1 Where Rit is the difference between Net Asset Values for two consecutive days divided by the NAV of the preceding day.

M.indt M.indt-1 Market return: Rmt = -------------------------------M.indt-1

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Where Rmt is the difference between market indices of two consecutive days dividend by the market index for the preceding day. Risk Risk is neither good nor bad. Risk in holding securities is generally associated with the possibility that realized returns will be less than expected returns. The difference between the required rate of returns on mutual fund investment and the risk free return is the risk premium. Risk can be measured in terms of Beta & standard deviations. Standard deviation It is used to measure the variation in individual returns from the average expected returns over a certain period. Standard deviation is used in the concept of risk of a portfolio of investments. Higher standard deviation means a greater fluctuation in expected return. Standard deviation (SD) = \/ var Where Var Var = = variance
i-E(r)) 2

Beta Beta measures the systematic risk and shows how prices of securities respond to the market forces. It is calculated by relating the return on a security with return for the market. By convention, market will have beta 1.0.Mutual fund is said to be volatile, more volatile or less volatile. If beta is grater than 1 the stock is said to be riskier than market. If beta is less than 1,the indication is that stock is less risky in comparison to market. If beta is zero then the risk is the same as that of the market. Negative beta is rare.

= nxy-(x)( y)

nx2-(x) 2

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Where, n= number of days X =rolling returns of the NSE index Y= rolling returns of the schemes Sharpe index Sharpe index measures risk premium of a portfolio, relative to the total amount of risk in the portfolio. Sharpe index summarizes the risk and return of a portfolio in a single measure that categorizes the performance of funds on the risk- adjusted basis. The larger the Sharpes index the portfolio over performs the market and vise versa. Where, St = Sharpes index Rp= portfolio return Rf= Risk free rate of return (7.59%) SD= Standard Deviation of the port folio St= RP-Rf Treynors Index Treynors model is on the concept of the characteristics straight line. The characteristics line has drawn a relationship between the market return and a specific portfolio without taking into consideration any direct adjustment for risk. It is also known as reward to volatility ratio and is defined as: The formula for Treynors Index is:

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Portfolio avg return (Rp) risk-free rate of interest (Rf)Treynor index (Tn) = -------------------------------------------------------------------Beta coefficient of portfolio (Bp) Rp Rf Tn = ------------------------Bp It measures portfolio risk in terms of beta, which is weighted average of individual security beta. The ratio is investors, for who the fund represents only a fraction of their total assets. The higher the ratio better is the performance.

Sharpe Sharpes index measures the risk premium of the portfolio relative to the total amt of risk in the portfolio. This risk premium is the difference between the portfolios average rate of return and the risk less rate of return. The index assigns the highest values to assets that have best risk-adjusted average rate of returns. Name of Scheme Relaince Growth fund(G) Relaince Vision Fund(G) Pru ICICI Dynamic Plan(G) HDFC Long Term Advantage HDFC Tax Saver fund(G) Pru ICICI Tax Plan(G) HDFC Equity Fund(G) HDFC Top 200 Fund Pru ICICI Power DOI 199.52 137.65 5 yrs Avg. Return Rp) 60.54 57.89 Rf 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 SD 23.55 15.43 30.51 15.64 30.59 32.69 11.70 11.70 14.81 St 2.23 3.23 1.56 0.59 1.41 1.31 3.33 2.68 2.34

47.3746 55.65 74.137 52.81

115.193 51.05 73.12 113.822 85.834 61.74 50.79 46.99 45.22 42.73
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Where st =Sharpes index Rp=portfolio return Rf=Risk free rate of return (8.00%) SD= standard deviation of the port folio St= RP-Rf
SD

Treynors Index Name of Scheme Reliance Growth Fund (G) Reliance Vision Fund (G) Pru ICICI Dynamic Plan (G) HDFC Long Term Advantage Fund (G) HDFC Tax Saver (G) Pru ICICI Tax Plan (G) HDFC Equity Fund (G) HDFC Top 200 fund Pru ICICI power DOI 199.52 137.65 47.3746 74.137 115.193 73.12 113.822 85.834 61.74 Rp 60.54 57.89 55.65 52.81 51.05 50.79 46.99 45.22 42.73 Rf 8 8 8 8 8 8 8 8 8 Beta 0.91 0.98 0.99 0.75 0.93 1 0.94 0.96 0.97 Tn 57.73 50.91 48.13 59.75 46.29 42.79 43.32 38.77 35.8

In Treynors higher the ratio higher the performance. Tn =Treynors index Rp=portfolio return Rf=Risk free rate of return (7.59%) Formula Tn= RP-Rf
Beta

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Performance Evaluation Tables Name of Scheme Reliance Growth Fund (G) Reliance Vision Fund (G) Pru ICICI Dynamic Plan (G) HDFC Long Term Advantage Fund (G) HDFC Tax Saver (G) Pru ICICI Tax Plan (G) HDFC Equity Fund (G) HDFC Top 200 fund Pru ICICI power (DOI) 199.52 137.65 47.374 6 74.137 115.19 3 73.12 113.82 2 85.834 61.71 Rp Beta Sharpe s 23.55 2.23 SD 15.43 3.23 30.51 1.56 15.64 0.59 30.59 1.41 32.69 1.31 11.7 3.33 13.88 2.68 14.81 2.34 Treynor' s 57.73 50.91 48.13 59.75 46.29 42.79 43.32 38.77 35.8

60.54 0.91 57.89 0.98 55.65 0.99 52.81 0.75 51.05 0.93 50.79 1 46.99 0.94 45.22 0.96 42.73 0.97

Ranking on the basis of Sharpes Name of the scheme HDFC equity fund Reliance vision fund HDFC top 200 fund Pru ICICI power Reliance growth fund Pru ICICI Dynamic fund HDFC tax saver fund Pru ICICI tax plan HDFC long tern advantage fund DOI 113.822 137.65 85.834 61.74 199.52 47.37 Rp 46.99 57.89 45.22 42.73 60.54 55.65 Sharpes 3.33 3.23 2.68 2.34 2.23 1.56 1.41 1.31 0.59 Ranks 1 2 3 4 5 6 7 8 9

115.193 51.05 73.12 50.79 74.134 52.81

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70 60 50 40 RANK 30 20 10 1 0 1 2 3 4 5 6 7 8 9 2 3 4 5 6 7 8 9 Treynors RATIO

Interpretation In this chart blue colour indicate to the Rank of Mutual Funds and Red colour shows the Sharpes Ratios of industries. Here HDFC Equity Funds has the First Rank and after that Reliance vision fund, HDFC top 200 fund, Pru ICICI power and others. Ranking on the basis of Treynors Name of Scheme Hdfc long tern advantage fund Reliance growth fund Reliance vision fund Pru ICICI dyanamic fund Hdfc tax saver fund Hdfc equity fund Pru icici tax plan Hdfc top 200 fund Pru ICICI power DOI 74.134 Rp 51.81 Treynors Ranks 60.29 1 58.18 57.33 51.33 48.55 46.73 43.2 41.91 38.61 2 3 4 5 6 7 8 9

199.52 60.54 137.65 57.89 47.3746 55.65 115.193 113.822 73.12 85.834 61.74 51.05 46.99 50.79 45.22 42.73

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70 60 50 40 RANK 30 20 10 1 0 1 2 3 4 5 6 7 8 9 2 3 4 5 6 7 8 9 Treynors RATIO

INTERPRETATION In this chart blue colour indicate to the Rank of Mutual Funds and Red colour shows the Treynors Ratios of industries. Here HDFC Long Term Advantage Funds has the First Rank and after that Reliance Growth fund, Reliance vision fund, Pru ICICI power and others.

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Findings

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FINDINGS
To work on this project I have find out some of the points where Bank managers should think. And by which they can increase customer base as well as they can give better service to the customers. They are as follows. HDFC mutual are providing 28 open ended schemes and 8 close ended schemes. Services of HDFC are much better then the mutual fund like systematic investment plan(SIP). HDFC mutual fund are providing both type of plan like regular and institutional plan in most of the product or fund. In HDFC mutual fund systematic withdrawal plan(SWP)are very easy and also easily available. In these funds or schemes HDFC are not providing both type of plan to the public they are providing wholesale or retail plan only in few schemes. HDFC are providing systematic investment plan(SIP)or systematic withdrawal plan(SWP) only quarterly. Minimum application amount Rs5000 for HDFC Saving A/C for semi urban and Rs10,000 for Urban Peoples.

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Suggestions

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SUGGESTIONS
1. In regards to its Mutual funds of the Bank should be profitable for the investors. 2. The Bank should also put emphasis on its Competitors mutual funds industries. 3. The Bank should try to generate internal funds while calculating proprietary ratio. 4. The Bank should review its investments in current assets and long term assets. 5. The Bank should have optimum capital mix so that the cost of capital should be decreased.

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Conclusion

57

CONCLUSION
Mutual Fund is the most suitable investment for the common man as it offers an opportunity to invest in a diversified, professionally managed portfolio at a relatively low cost. The small savings of all the investors are put together to increase the buying power and hire a professional manager to invest and monitor the money. Anybody with an investible surplus of as little as a few thousand rupees can invest in Mutual Funds. Each Mutual Fund scheme has a defined investment objective and strategy. HDFC Mutual Fund is one of the largest mutual funds incorporated on December 10, 1999. Presently, HDFC Mutual Fund is managing 28 Open-Ended Schemes and 8 Close-Ended Schemes. HDFC Asset Management Company Ltd (AMC) was incorporated under the Companies Act, 1956, on December 10, 1999, and was approved to act as an Asset Management Company for the HDFC Mutual Fund by SEBI vide its letter dated June 30, 2000.The registered office of the AMC is situated at Ramon House, 3rd Floor, H.T. Parekh Marg, 169, Back bay Reclamation, Church gate, Mumbai - 400 020. In terms of the Investment Management Agreement, the Trustee has appointed the AMC to manage the Mutual Fund. As per the terms of the Investment Management Agreement, the AMC will conduct the operations of the Mutual Fund and manage assets of the schemes, including the schemes launched from time to time. The Bank should also put emphasis on its Competitors mutual funds industries. The Bank should review its investments in current assets and long term assets.

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Bibliography

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BIBLIOGRAPHY
Books referred security analysis & portfolio management By Punithavathy pandian. Pandey I,.M., Financial Management, New Delhi, Vikas Publishing House Pvt. Ltd., 9th Ed. Khan M.Y., Jain P.K., Financial Management Text Problems and Cases New Delhi, Tata Mc Graw Hill Publishing Co. Ltd. 4th ED. Gupta Shashi,K, Sharma .R.K Management Accounting Principles and Practises New Delhi, Kalyani Publishers 9th ED. Kothari C.R., Research Methodology Methods and Techniques Wishwa Prakashan, New Delhi, 2001. Bhalla V.K., Working Capital Management: Text and Cases, Anmol Publications Pvt. Ltd., Gupta S.K., Accounting for managerial decisions, 7th edition, Kalyani Publishers, New Delhi, 2005 P.No. (10.1-10.5). Pandey I..M., Financial Management, Vikas Publishing House, New Delhi, 2004, p-246-250. Mittal R.K., Management accounting and financial management, New Delhi, V.K. Publications, 2007, p51-70. Kothari C.R., Quantitative Techniques, Vikas publishing house Pvt. Ltd. New Delhi, 2006, p- 168- 174. Khan M.Y, Jain P.K, Management Accounting, 5th edition, Tata McGraw Hill Publishing Ltd., New Delhi, 2004, P.No.60-95 Chandra Prasanna , Financial Management- Theory and Practice, Tata McGraw Hill Publishing Co. Ltd. , Delhi, 2005, p-297. Kothari C.R., Quantitative Techniques1 ,Pg10-20, I have taken knowledge about research design ,sample design & sampling. In this I got what type of sample can be choosen and more about sample design Khan M.Y, Jain P.K Management Accounting2,Pg 67 , Ratios and there formulations.

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Bruch Lev, Financial Statement Analysis-A new approach3,p-11,2006, How ratio can be analysed and about the interpretation of these ratios. Gupta S.P., Business Statistics4, Pg 378-418 From here I found the information regarding correlation , trend and statistical tools. Goel D.K. Management Accounting and Financial Management5,Pg 78 In this I found the different types of ratios and there formulas and about thumb rule and all basic concept. Pandey , I.M Financial Management6 Pg-143-145 How to prepare comparative balance sheet and how can we evaluate. Maheshwari ,S.N , Advanced Accounting7 pg b40-b48, It explains ratio analysis as a tool to analyze the financial statements of organization. Different ratios depict the position of firm in market. Mittal R.K , Management Accounting& Financial Management8 pg 28-30 from this I have how to prepare comparative balance sheet and how to interpret it Jain T.R. , Statistics for MBA9 Pg part C 135-138, Information about the calculation of chi square test. Berry G.C., Marketing Research10 pg15 Some theoretical knowledge about the type of data. S.C Gupta, Fundamentals of Statistics11 pg112, From here I found the definitions that are the base for the statistical tools. Hooda R.P. Statistics for Business and Economics12 pg209-212 Calculation of trend analysis and its interpretation. Horne James.c.Van, Fundamental of Financial Management13 pg125-130 From this I got how to analyse the financial condition Chandra Prasanna , Fundamental of Financial Management14, pg103-108 this book help me to analyse the balance sheet , how can we say that the firm is going well or not. Cooper R.Donald , Business Research Methods17, pg176-180 all about sampling design, its meaning

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Web sites
WWW.DSPBLACK.COM WIKIPEDIA

WWW.HDFC.COM www.hdfcmutualfund.com www.amfi.com www.myirish.com www.indiainfoline.com www.google.com www.yahoo.com www.rediff.com

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Annex: Glossary
These definitions explain the meaning of words and terms used in the Code. They are not precise legal or technical definitions. ATM An automated teller machine [ATM] is a machine in which a customer can use their card along with PIN to get cash, information and other services. Banking Ombudsman An independent dispute resolution authority set up by the Reserve Bank to deal with disputes that individuals and small business have with their banks. Card A general term for any plastic card, which a customer may use to pay for goods and services or to withdraw cash. In this Code, it includes debit, credit, or ATM cards. Credit Card A Credit Card is a plastic card with a credit facility, which allows you to pay for goods and services or to withdraw cash Cheque Collection Policy Cheque Collection Policy refers to the policy followed by a bank in respect of the various local cheques and outstation instruments deposited with the bank for credit to an account . The policy interalia deals with cheque purchase requests time frame for credit of cheques

payment of interest in case of delay in collection of cheques instant credit of local and outstation cheques cheques instruments lost in transit and charges for such collection

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Customer A person who has an account [including a joint account with another person or an account held as an executor or trustee or as a Karta of an HUF, but not including the accounts of sole traders/ proprietorships , partnerships, companies, clubs and societies] or who avails of other products/ services from a bank. Current Account A form of demand deposit wherefrom withdrawals are allowed any number of times depending upon the balance in the account or up to a particular agreed amount. Deceased Account A Deceased account is a deposit account in which case either the single account holder has deceased or in case of joint accounts one or more of joint account holders has/have deceased Demat Account A Demat account refers to dematerialized account and is an account in which the stocks of investors are held in electronic form. Deposit Accounts:

"Savings deposits" means a form of demand deposit which is subject to restrictions as to the number of withdrawals as also the amounts of withdrawals permitted by the Bank during any specified period;

"Term deposit" means a deposit received by the Bank for a fixed period withdraw able only after the expiry of the fixed period and includes deposits such as Recurring / Double Benefit Deposits / Short Deposits / Fixed Deposits /Monthly Income Certificate /Quarterly Income Certificate etc.

"Notice Deposit" means term deposit for specific period but withdraw able on giving at least one complete banking day's notice;

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Dormant / Inoperative Account A dormant/inoperative account is a savings bank or current account which is not operated upon for a period specified by the bank. Equity Equity means a part of capital of a corporate entity which is represented by the shares of the company whether in physical or in dematerialized form Electronic Clearing System The Electronic Clearing System (ECS) is an online transmission system which permits the electronic transmission of payment information by the banks / branches to the Automated Clearing House (ACH) via a communication network. Guarantee A promise given by a person Government Bond Government bond means a security, created and issued, by the Government for the purpose of raising a public loan. Mail A letter in a physical or electronic form Mutual fund Mutual fund is a mechanism for pooling the resources by issuing units to the investors and investing funds in securities in accordance with objectives as disclosed in offer document.

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